Zacks Research Brokers Cut Earnings Estimates for Tesla, Inc. (NASDAQ:TSLA)

Tesla, Inc. (NASDAQ:TSLA) – Analysts at Zacks Research dropped their FY2024 earnings estimates for Tesla in a report released on Monday, April 15th. Zacks Research analyst R. Singhi now anticipates that the electric vehicle producer will post earnings of $2.64 per share for the year, down from their previous forecast of $2.72. The consensus estimate for Tesla’s current full-year earnings is $1.98 per share. Zacks Research also issued estimates for Tesla’s Q4 2025 earnings at $0.77 EPS and FY2025 earnings at $3.14 EPS.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.03). The company had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. Tesla’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.07 EPS.

TSLA has been the topic of several other research reports. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research note on Tuesday, April 2nd. Canaccord Genuity Group dropped their target price on shares of Tesla from $267.00 to $234.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. Jefferies Financial Group dropped their target price on shares of Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. Piper Sandler lowered their price objective on shares of Tesla from $225.00 to $205.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th. Finally, HSBC lowered their price objective on shares of Tesla from $143.00 to $138.00 and set a “reduce” rating on the stock in a research report on Wednesday, April 3rd. Ten research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $197.15.

Tesla Stock Down 1.1 %

Shares of NASDAQ TSLA traded down $1.66 during midday trading on Wednesday, hitting $155.45. The stock had a trading volume of 82,188,971 shares, compared to its average volume of 101,918,625. The business’s 50 day moving average is $180.88 and its 200-day moving average is $213.04. The company has a market cap of $495.08 billion, a P/E ratio of 36.38, a PEG ratio of 4.25 and a beta of 2.39. Tesla has a 52 week low of $152.37 and a 52 week high of $299.29. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total value of $121,674.57. Following the completion of the sale, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Xiaotong Zhu sold 687 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the transaction, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at $11,188,215.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,920,950. The disclosure for this sale can be found here. Insiders sold a total of 209,098 shares of company stock valued at $38,802,534 over the last three months. Corporate insiders own 20.90% of the company’s stock.

Hedge Funds Weigh In On Tesla

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Founders Financial Securities LLC grew its stake in shares of Tesla by 2.7% in the 1st quarter. Founders Financial Securities LLC now owns 10,802 shares of the electric vehicle producer’s stock worth $1,899,000 after buying an additional 287 shares in the last quarter. Foguth Wealth Management LLC. purchased a new position in shares of Tesla in the 1st quarter worth $3,413,000. Gibson Capital LLC purchased a new position in shares of Tesla in the 1st quarter worth $192,000. Romano Brothers AND Company grew its stake in shares of Tesla by 3.8% in the 1st quarter. Romano Brothers AND Company now owns 2,479 shares of the electric vehicle producer’s stock worth $436,000 after buying an additional 90 shares in the last quarter. Finally, Meritas Wealth Management LLC grew its stake in shares of Tesla by 50.7% in the 1st quarter. Meritas Wealth Management LLC now owns 1,695 shares of the electric vehicle producer’s stock worth $298,000 after buying an additional 570 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.